Brewdog

[Come On You Irons]

Hundreds of staff summarily sacked yesterday.

Investors left with ZERO return

Founding owners walk away with millions by contrast.

What a perfect brand to serve as Sullivan and Brady's preferred sole beer supplier to West Ham

BBC News - The 15-minute call where hundreds of 'devastated' Brewdog staff were laid off - BBC News
https://www.bbc.co.uk/news/articles/cd70zjvwjpdo

[Gank]

I created a thread about it because Brewdog is the sole supplier at the London Stadium. So it is a notable development for those of us who actually go to games.

I don't spend money at the stadium but I accept that this is related to West Ham, so I retract that part of my post.

[Come On You Irons]

I created a thread about it because Brewdog is the sole supplier at the London Stadium. So it is a notable development for those of us who actually go to games.

[Gank]

I bought up loads of those equity punk 'shares'. I never got an opportunity to use any of the perks but I didn't mind. I always knew they had no monetary value. When they went all anti-Brexit I decided not to vote or attend their AGMs but as a fan of Punk IPA and Blackheart I was happy to be involved.

They did make a lot of fad rubbish as well though.

Companies are sold off for asset stripping every day, I don't know why we're getting all indignant about this one. And as for the model being flawed, no it isn't. You only need to watch Dragon's Den a couple of times to see that many company founders plan to sell their company off well before they even launch, and it's encouraged. So some staff have to be laid off? That's life, it isn't Thatcher closing the mines, it's your employer being dissolved.

Don't even know why there's a thread about it.

[eusebiovic]

I didn't understand the fuss...their stuff never convinced me so I gave it a wide berth.

Even the stout which was supposed to be the best thing they did couldn't hold a candle to London Black by Anspatch and Hobday. Lovely stuff.



 

[BRANDED]

Black Heart aside, Brewdog beers were over hyped rubbish, and if "fans" of them put money into the company, they simply doubled up on their lack of judgement. Feel sorry for the workforce and the treatment they appear to have received.

 

They chose to work for a known fucked company. 

 

[easthammer]

Black Heart aside, Brewdog beers were over hyped rubbish, and if "fans" of them put money into the company, they simply doubled up on their lack of judgement. Feel sorry for the workforce and the treatment they appear to have received.

[onsideman]

As said, if you put your hard, or easy, earned into a start-up, don't be shocked if you lose your shirt. 

 

 

True, although strictly speaking it wasn't still a 'start up' when many of the equity for punks investors chipped in. Although that scheme started in 2009, 2 years after it was founded, they were still inviting those investments up until 2021 - 4 years after the PEI - when it was considered a 'unicorn'

[Pub Bigot]

Gutted for the staff, but happy my old man won’t drag me into the BrewDog in either Canary Wharf or Upminster now. 

Never ever entered the one in Upminster and l live there
Did once in Manchester when we was away to Manure and thought it was shit and of cunts 

My old man loves Blackheart, which I don’t mind but it’s not a patch on Guinness or Beamish. 

I live in Scouseland now, and prefer drinking in the Coborn, Palcock or Half Moon.

[XKhammer]

Gutted for the staff, but happy my old man won’t drag me into the BrewDog in either Canary Wharf or Upminster now. 

Never ever entered the one in Upminster and l live there
Did once in Manchester when we was away to Manure and thought it was shit and of cunts 

[XKhammer]

Bred Wog not playing the white man?

Businesses eh?

Should all be run as charities solely for the benefit of the workers.

You know when l said you only post utter bollocks? 

[Swiss.]

Listened to bbc podcast on Brewdog a few years ago. The owners are complete and utter C*nts. I stopped buying  their stuff after hearing it. 

[Manuel]

As said, if you put your hard, or easy, earned into a start-up, don't be shocked if you lose your shirt. 

[BRANDED]

The key is being able to trade your share. If you cant, you’re fucked. 

[Come On You Irons]

The whole sell off to private equity with preference shares is so shady and a reason why I would never invest my CAPITAL in these dodgy start up ventures.

Give me a safe, boring FTSE100 or S&P500 company all day long.

[BRANDED]

The company went into administration. It was worth very little, except what the buyers paid £30 mill for. the bits that stripped out actually make money.

shareholders always lose their shirts. 

 

[MaryMillingtonsGhost]

Barman.
A pint of bothered, please.

Truly awful neck oil, and surprised they lasted as long as they did.

[wingdamage]

The people who sold it were the OWNERS, they don't owe anyone a living, they're the ones who built their own business up.

Don’t agree with this. Have a preference for the John Lewis model where all employees have a share in the ownership.  The world would be a better place if every business set itself up like that. 

The John Lewis model would be better if they didn't take away this years 6.7% pay rise for their van drivers for making a minor infringement. A first disciplinary due to a  minor traffic violation costs the full time employee £1800. Shocking and sadly true. The employee gets the rise delayed for a year they're on £15 an hour. The accountant who brought this ruse in saves the company thousands, they don't have my admiration. 
Brewdog is piss. 

[onsideman]

The people who sold it were the OWNERS, they don't owe anyone a living, they're the ones who built their own business up.

 

 

Well... as always, there's a bit more to it than that.

They sought investment early on specfically from regular punters who were fans of the brand rather than seasoned investors to aid expansion... Equity For Punks they called it, but the equity came with no actual rights. £75m was raised and they then used that money to develop a brand that was ultimately worth £1bn - a valuation figure that was arrived at by virtue of the owners selling £200m of shares to a private equity firm.  The 20%+ also came with massively onerous preferential rights which basically wiped out the punk investors. 

The owners - and James Watt in particular -  then destroyed the brand through his damaging behaviour, dreadful PR and the creation of a renownedly toxic working environment before resigning.

It was decimated and 'sold' for £30m for asset stripping.

They're cunts

[wils]

I really like Brewdog IPA. But stopped buying it when they came out as woke and anti-Brexit. Had the desired effect. 

[BRANDED]

The founders sold a load of their shares a few years ago. The venture capital that came in sold it. They had every right to do that in their best interests. Its a private business and they’ve lost loads of money.

if you rely on a business for your life you might want a back up option if they are useles.

FWIW I always like Punk IPA. Still do. But all beer is getting stupidly expensive in pubs except Spoons obvs. 

[eusebiovic]

Shitty beer for pretentious hipster cunts.

The hipsters dropped them like radioactive waste as soon as it became clear they were getting too big for their boots hence becoming "uncool" 

[Leonard Hatred]

Shitty beer for pretentious hipster cunts.

[wils]

The people who sold it were the OWNERS, they don't owe anyone a living, they're the ones who built their own business up.

Don’t agree with this. Have a preference for the John Lewis model where all employees have a share in the ownership.  The world would be a better place if every business set itself up like that. 

[Tomshardware]

Pißwasser  

[Massive Attack]

Does taste shit. Definitely no loss.